Foundry Partners LLC Purchases New Position in Sanderson Farms, Inc. (SAFM)
Foundry Partners LLC purchased a new position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 2,150 shares of the company’s stock, valued at approximately $222,000.
Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Sanderson Farms by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,444,477 shares of the company’s stock worth $151,886,000 after acquiring an additional 56,871 shares in the last quarter. Shufro Rose & Co. LLC raised its stake in Sanderson Farms by 44.4% during the 2nd quarter. Shufro Rose & Co. LLC now owns 55,165 shares of the company’s stock worth $5,801,000 after acquiring an additional 16,965 shares in the last quarter. Montag A & Associates Inc. raised its stake in Sanderson Farms by 9.1% during the 2nd quarter. Montag A & Associates Inc. now owns 6,000 shares of the company’s stock worth $631,000 after acquiring an additional 500 shares in the last quarter. Kwmg LLC raised its stake in Sanderson Farms by 6.8% during the 2nd quarter. Kwmg LLC now owns 19,410 shares of the company’s stock worth $2,041,000 after acquiring an additional 1,235 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Sanderson Farms during the 2nd quarter worth $6,068,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.
SAFM has been the topic of several research analyst reports. Jefferies Financial Group reiterated a “sell” rating and set a $77.00 price target on shares of Sanderson Farms in a research note on Thursday, August 23rd. TheStreet downgraded shares of Sanderson Farms from a “b” rating to a “c+” rating in a research report on Wednesday, August 29th. BidaskClub raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Tuesday, August 21st. ValuEngine raised shares of Sanderson Farms from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, Mizuho set a $105.00 price objective on shares of Sanderson Farms and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Sanderson Farms currently has a consensus rating of “Hold” and an average price target of $98.22.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, August 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($1.17). Sanderson Farms had a return on equity of 9.41% and a net margin of 5.29%. The business had revenue of $852.40 million for the quarter, compared to analysts’ expectations of $871.06 million. During the same period in the previous year, the business posted $5.09 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities analysts anticipate that Sanderson Farms, Inc. will post 2.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 16th. Stockholders of record on Tuesday, October 2nd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Monday, October 1st. Sanderson Farms’s payout ratio is 10.41%.
In other news, Director John Bierbusse sold 875 shares of Sanderson Farms stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $109.94, for a total value of $96,197.50. Following the sale, the director now owns 12,086 shares of the company’s stock, valued at $1,328,734.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $107.14, for a total transaction of $53,570.00. Following the completion of the sale, the director now directly owns 9,682 shares in the company, valued at approximately $1,037,329.48. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
Sanderson Farms Profile
Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken in the export markets.
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